Bee Money

09/09/2021

https://www.linkedin.com/posts/bee-money_audis-electric-concept-heralds-fresh-bid-activity-6841527855697018880-rO4a

Ask us about : [email protected] or call 0417 693 547 ...

08/09/2021

https://www.linkedin.com/feed/update/urn:li:activity:6786830453870604288

Although commercial asset finance is regarded as unregulated, there are disclosures and regulations that we as finance brokers consider and comply with...

08/09/2021

https://www.linkedin.com/posts/marleneliontis_chris-hampton-of-parley-property-advisory-activity-6828557057369657345-aml7

Chris Hampton of Parley Property Advisory (parleypa.com.au) A new boutique firm that specialises in sourcing investment-grade properties in regional areas...

08/09/2021

https://www.domain.com.au/news/brisbanes-best-property-buys-starting-at-375000-1086473/

From a two-bedroom townhouse in Corinda to a ripe-for-renovation, three-bedroom post-war house on the north side, all six of these properties are priced at less than $800,000.

08/09/2021

https://www.linkedin.com/feed/update/urn:li:activity:6798921386845990912

The more information commercial loan applicants can provide us, the smoother the assessment & application process. We use all of this information to prepare...

08/09/2021

https://www.linkedin.com/feed/update/urn:li:activity:6812879446253686784

Here are the 9 most common reasons a may decline a application: * If you have been in your current job role for less...

07/09/2021

https://www.domain.com.au/news/why-theres-never-been-a-better-time-to-get-in-on-tassies-property-investment-action-1082602/

There’s still time to jump on the Tassie train, the experts say, with high demand set to keep pushing up prices.

07/09/2021

https://www.linkedin.com/posts/bee-money_watch-daimler-presents-all-electric-mercedes-activity-6840936994940575744-tbxC

Talk to us about fleet and vehicle finance: [email protected] or call 0417 693547 ...

07/09/2021

Talk to us about fleet and vehicle finance: [email protected] or call 0417 693547

Daimler has presented their new Mercedes EQE, the first fully electric vehicle for the premium carmaker's high-performance AMG brand and a concept car for its luxury Maybach brand ahead of the Munich IAA car show opening.

07/09/2021

In development finance, there are various terms that financiers will use when discussing the viability of a project:

* GRV- Gross Realisable Value ( the gross value of the project)

* NRV- Net Realisable Value ( the gross value of the project less
GST & the developer's marketing costs) Lenders will generally finance 65% of NRV.

* TDC-Total Development Costs ( the value of the land plus all the development costs that go into the development. Land is assessed at the current market value) Lenders will generally finance 70-80% of TDC.

Lenders will generally finance the lower of the 2 costs ( NRV & TDC).

Financiers will prefer a profit margin of 15% + on developments.
Most lenders will prefer to see an element of pre-sales in the project as this shows that the market has been tested.
Lenders also consider 60% of pre-sales in a project as 100% debt coverage.

For more information about financing your next development project, contact us at [email protected] or contact us on 0417 693 547

07/09/2021

What is the difference between a Conditional and Unconditional Approval?

A Offer (Pre-Approval) generally means that you can start looking at potential properties BUT it is not a final promise from the lender.
It is provided by a lender if you have met some of the criteria for the application but your application is still subject to more requirements being fulfilled ( ie, subject to valuation).

If you get a pre-approval, ask your broker or lender if the pre-approval is going to be assessed internally by the lender's credit department.
If it isn't, it's advisable not to sign any sale contracts for any properties.
Also, ask your broker/lender if the lender approves Lender's Mortgage Insurance internally (if applicable), or is this done via a third party?
Sometimes applications will be approved by the lenders but they then can be rejected via the LMI provider.
In addition, if you are going to bid at an auction, check the address of the property with your broker/lender first, to make sure that the property falls into the lender's acceptable security policy.
Do your research before doing any bidding and check the recent comparable sales in the area so that you can base your bid on these sales.

An Unconditional Approval (Formal Approval) is when the lender has approved your loan as you have met all their criteria.
The lender will provide you with a formal letter that you can provide to your solicitor if you have a finance clause in your Contract of Sale and you can go 'Unconditional" on the Purchase Contract.
Then the lender will issue Loan Contracts for you to sign and send back to the lender.
Once you are approved, refrain from acquiring any new finance arrangements, in order not to breach the lender's requirements, as this can result in the lender not going ahead with the Unconditional Approval.

Note: Bank Valuations are usually valid for 90 Days, typically, the lender will prefer that you settle on a property within 3 months of the loan documents being issued, otherwise they will expire.
If there is an extended settlement for whatever reason, the lender may have to reassess the whole application again.

06/09/2021

https://www.commercialrealestate.com.au/news/investors-get-ready-for-11pc-return-from-property-stocks-1085899/

Listed landlords have outperformed the S&P/ASX200 by 8.5 percentage points over the past six months and there is more to come, according to Jarden.